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Applied Digital

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Overview

Applied Digital Corporation (APLD), formerly Applied Blockchain, Inc., specializes in digital infrastructure solutions for high-performance computing (HPC) and artificial intelligence (AI). Here's a comprehensive overview:

Business Segments

  • Data Center Hosting: Design, construction, and management of data centers
  • Cloud Services: Offering GPU cloud computing for AI and machine learning workloads
  • HPC Hosting: Providing infrastructure and services for high-performance computing tasks

Services and Solutions

  • Infrastructure for Crypto Mining
  • GPU Computing Solutions for AI, machine learning, and HPC tasks
  • Data Center Operations supporting HPC applications

Company Profile

  • Headquarters: Dallas, Texas, USA
  • Founded: 2001
  • Renamed: From Applied Blockchain, Inc. to Applied Digital Corporation in November 2022
  • CEO: Wesley Cummins (Chairman, CEO, President, Secretary, and Treasurer)
  • Employees: Approximately 150

Industry Classification

  • Sector: Technology
  • Industry: Information Technology Services
  • NAICS Code: 518210 (Data Processing, Hosting, and Related Services)
  • SIC Code: 7374 (Computer Processing and Data Preparation and Processing Services)

Stock Information

  • Ticker Symbol: APLD
  • Exchange: NASDAQ
  • Stock Type: Common Stock Applied Digital Corporation focuses on innovative digital infrastructure solutions to support the growing demands of AI, HPC, and other compute-intensive industries.

Leadership Team

Applied Digital Corporation's leadership team brings extensive experience in technology, operations, and business strategy to drive the company's growth in the high-performance computing (HPC) and AI infrastructure space:

Wes Cummins - Chairman and CEO

  • Co-founder with a vision for high-value company growth
  • Annual compensation: ~$1.24 million
  • Owns 1.83% of company shares

Laura Laltrello - Chief Operating Officer (COO)

  • Joined January 6, 2025
  • Nearly 20 years of executive leadership in data center operations and large-scale infrastructure
  • Previous role: VP and GM of Building Automation Services at Honeywell International Inc.

Michael Maniscalco - Chief Technology Officer (CTO)

  • Leads development of supercomputers and data centers for AI applications
  • Over 20 years of experience in web3, IoT, finance, telecommunications, and healthcare

David Rench - Chief Administrative Officer

  • Expert in financial management, operational strategy, and administrative leadership
  • Strong background in efficiency and streamlined processes

Todd Gale - Chief Development Officer

  • 45+ years of expertise in data center design, engineering, and construction
  • Previous experience at Flexential and Terremark Worldwide

Tom Burke - Chief Revenue Officer

  • Expertise in delivering outstanding revenue performance
  • Former leader of IBM's global AI partnership strategy

LaTascha Durden - Vice President of Human Resources

  • 25+ years in HR management across government and private sectors
  • Focus on workforce planning, policy design, compliance, and training The leadership team at Applied Digital is committed to aligning company goals with technological advancements and market demands, driving growth, and ensuring efficient operational execution in the HPC industry.

History

It's important to distinguish between Applied Digital Corporation (APLD) and the historical company Applied Digital Data Systems, Inc. (ADDS), as they are separate entities with distinct histories.

Applied Digital Corporation (APLD)

  • Incorporated in 2001
  • Formerly known as Applied Blockchain, Inc.
  • Renamed to Applied Digital Corporation in November 2022
  • Completed Initial Public Offering (IPO) in April 2022
  • Listed on NASDAQ under symbol APLD
  • Focuses on digital infrastructure solutions for HPC and AI industries
  • Operates through three segments: Data Center Hosting, Cloud Services, and HPC Hosting

Applied Digital Data Systems, Inc. (ADDS)

  • Founded in 1969 by Leeam Lowin and William J. Catacosinos
  • Supplier of video display computer terminals
  • Known for Mentor 2000 professional computer
  • Became a subsidiary of NCR Corporation in 1980
  • Later part of AT&T, then briefly independent
  • Acquired by SunRiver Data Systems
  • Pick operating system version developed by ADDS later acquired by Pick Systems Inc (now TigerLogic)
  • Now known as mvBase, sold to Rocket Software in 2013 While sharing a similar name, these companies have distinct histories and areas of operation. Applied Digital Corporation is a modern company focused on digital infrastructure and cloud services, while Applied Digital Data Systems, Inc. was involved in early computer terminals and microcomputers.

Products & Solutions

Applied Digital Corporation (APLD) specializes in providing digital infrastructure solutions for high-performance computing (HPC) and artificial intelligence (AI) industries. Their key offerings include:

  1. Data Center Services:
  • Design, construction, and management of purpose-built data centers for advanced AI workloads, including training and inference.
  1. HPC Hosting Business:
  • Infrastructure services tailored for high-performance computing tasks, with a focus on GPU computing solutions for AI and machine learning.
  1. Cloud Services:
  • AI GPU cloud services, providing scalable and powerful computing resources for AI and machine learning applications.
  1. Data Center Hosting:
  • Hosting services for various clients, including those in the cryptocurrency mining sector, with data centers operating at full capacity across locations such as North Dakota.
  1. High-Performance Computing (HPC) Data Centers:
  • Expansion of HPC data center platform, including the development of the Ellendale HPC Campus, supported by Macquarie Asset Management. This campus is designed to support over 400 MW of HPC capacity and is part of a broader strategy to scale HPC data centers across North America.
  1. Crypto Datacenter Hosting:
  • Specialized infrastructure services for cryptocurrency mining customers, ensuring necessary power and computing resources. Applied Digital's offerings are centered around creating and maintaining robust digital infrastructure to support the demanding needs of HPC and AI applications, positioning the company at the forefront of the rapidly evolving digital landscape.

Core Technology

Applied Digital Corporation (APLD) focuses on designing, building, and operating next-generation digital infrastructure for high-performance computing (HPC) and artificial intelligence (AI) applications. Key aspects of their core technology include:

  1. Advanced Data Center Solutions:
  • Scalable and robust data centers engineered for peak performance in AI and HPC applications.
  • Integration of performance, flexibility, architecture, and software to support diverse computing needs.
  1. Innovative Cooling Systems:
  • Utilization of both traditional air-cooled and advanced liquid-cooled solutions.
  • Strategic location of facilities to leverage natural cooling and renewable energy sources, enhancing efficiency and sustainability.
  1. Comprehensive Security Measures:
  • Robust site security with 24/7 physical monitoring.
  • Two-factor authentication and multi-layered cybersecurity protocols.
  • Rigorous Environmental, Health, and Safety (EHS) protocols and continuous training.
  1. Industry Expertise and Partnerships:
  • Team of experts with extensive backgrounds in data center design, engineering, and operations.
  • Collaborations with major clients such as Amazon (AWS), Google, IBM, Meta (Facebook), and Microsoft.
  • Network of industry-leading partners and backers, enhancing reliability and innovation.
  1. Cloud Services and GPU Access:
  • Provision of cloud services, including access to Nvidia Blackwell GPUs for AI and HPC applications.
  • Enables clients to leverage high-performance computing resources without large-scale data center colocation.
  1. Ongoing Expansion:
  • Development of a significant data center campus in Ellendale, North Dakota, supported by a $200 million debt facility from CIM Group.
  • Designed to host both cryptomining and HPC hardware, showcasing the company's versatility. Applied Digital's core technology is centered around providing high-performance, scalable, and efficient data center solutions specifically designed to meet the demanding needs of AI and HPC applications, positioning the company as a leader in the digital infrastructure space.

Industry Peers

Applied Digital Corporation (NASDAQ: APLD) operates within the Cloud Computing & Data Analytics industry, as well as the broader Information Technology and Internet Services sector. Key industry peers include:

  1. Cloud Computing & Data Analytics:
  • Equinix Inc: Major player with significant market share in data center and interconnection services.
  • Digital Realty Trust Inc: Large-scale provider of data center, colocation, and interconnection solutions.
  • Cyxtera Technologies Inc: Offers global data center and interconnection services.
  • DigitalOcean Holdings Inc: Provides cloud infrastructure and platform services for developers and small businesses.
  • Squarespace Inc: While primarily a website and e-commerce platform, it operates within the broader technology infrastructure sector.
  1. Information Technology and Internet Services:
  • Kingsoft Cloud Holdings Limited: Chinese cloud service provider offering a wide range of cloud products.
  • Fastly, Inc.: Specializes in edge cloud computing and content delivery network (CDN) services.
  • VNET Group, Inc.: Provides carrier-neutral data center services in China.
  • Couchbase, Inc.: Focuses on NoSQL database technology and cloud services for enterprise applications.
  1. Direct Competitors:
  • Valtech North America: Offers digital transformation and technology services.
  • JoulestoWatts: Provides IT consulting and staffing solutions.
  • DevFactory: Specializes in software development and IT services. While these companies may not be directly comparable in all aspects, they operate within similar segments and provide comparable services, making them relevant peers for analysis. Applied Digital's focus on high-performance computing and AI infrastructure sets it apart within this competitive landscape, positioning it uniquely in the rapidly evolving digital infrastructure market.

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